E-N: Hotel Indigo sold at auction

According to the San Antonio Express-News, the Hotel Indigo San Antonio-Riverwalk, 830 N. St. Mary’s St., was sold for $9 million on Tuesday at the Bexar County Courthouse. Do not confuse this Hotel Indigo with the one at Alamo Plaza, 105 N. Alamo St.

The buyer of the River Walk Hotel Indigo was LNR Partners LLC. According to the article, the hotel had been owned by RW Hotel Associates LP, but it defaulted on a $16.3 million loan made by General Electric Capital Corp. in 2006.

According to an Express-News article in March, the Hotel Indigo at Alamo Plaza was due for the auction block, but the ownership, lead by Yamini and Ashish Patel of 1909 Ltd., filed for Chapter 11 bankruptcy protection, effectively stopping the sale.